Nanosonics has revised its sales model with General Electric resulting in FY22 earnings downgrades and less certainty around FY23 earnings growth, Morgans notes.

The move is nevertheless consistent with the company's strategy of a direct approach to market, moving away from the distributor model. The broker has cut FY22 forecasts and become more cautious over FY23 which leads to a target cut to $5.97 from $6.97.

Add retained.

Sector: Health Care Equipment & Services.

Target price is $5.97.Current Price is $4.80. Difference: $1.17 - (brackets indicate current price is over target). If NAN meets the Morgans target it will return approximately 20% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena